HM Revenue and Customs (HMRC) have announced a new strategy aimed at maximising seizures of cash and other assets which represent the proceeds of crime. The strategy places an increased emphasis on the use of intelligence and, it would seem, a commitment by HMRC to upgrade their legal skills.
Of most concern is the statement that HMRC intend to ensure that ‘financial investigation with a view to confiscation is a feature of all criminal investigations’ and that restraint orders (which prevent the movement of assets) are obtained at the earliest appropriate stage during an investigation.
In addition, criminal funds seized by HMRC are to be recycled into ‘new and innovative measures to enhance our attack on criminal activity and related profits’.
A recent case has shown that assets gained through tax evasion can be considered to be the proceeds of crime.
View the executive summary.